ABC - Business Newshttp://stillwaterradio.net
Business and Economic News and Headlines From ABC News Radioen-us(c) ABC News RadioHollywood continues to sever ties with Harvey Weinsteinhttp://stillwaterradio.net/abc-business-news/7ff5ca205d125bee133aa63cd439a57e
Mon, 16 Oct 2017 16:38:00 -0500http://stillwaterradio.net/abc-business-news/7ff5ca205d125bee133aa63cd439a57eChance Yeh/Getty Images(NEW YORK) -- Hollywood is up in arms over the allegations surrounding Harvey Weinstein and the company he co-founded, The Weinstein Company.

The Producers Guild of America's national board of directors and officers voted on Monday to expel Weinstein after numerous women claimed the movie mogul and producer sexually harassed or sexually assaulted them.

"This morning, the PGA’s National Board of Directors and Officers decided by unanimous vote to institute termination proceedings concerning Harvey Weinstein’s membership,” co-presidents Gary Lucchesi and Lori McCreary said in a statement on behalf of the board. “As required by the PGA’s Constitution, Mr. Weinstein will be given the opportunity to respond before the Guild makes its final determination on November 6, 2017.”

“Sexual harassment of any type is completely unacceptable. This is a systemic and pervasive problem requiring immediate industry-wide action,” the statement continued.

The co-presidents also announced a new task force in the wake of Weinstein’s allegations.

“Today, the PGA’s National Board and Officers – composed of 20 women and 18 men -- created the Anti-Sexual Harassment Task Force specifically charged with researching and proposing substantive and effective solutions to sexual harassment in the entertainment industry,” the statement said. “The PGA calls on leaders throughout the entertainment community to work together to ensure that sexual abuse and harassment are eradicated from the industry.”

Weinstein has denied any allegations of non-consensual sex in a statement to The New Yorker.

However, in addition to the PGA, here are the other organizations and companies that have severed ties with the disgraced producer.

The Academy of Motion Picture Arts and Sciences

The preeminent organization honoring the best in film said in a statement Saturday that it's voted to expel Weinstein.

It did so "to send a message that the era of willful ignorance and shameful complicity in sexually predatory behavior and workplace harassment in our industry is over."

Weinstein and the academy had a pretty long history, dating back to 1990 when he launched an Oscars campaign for an independent film, "My Left Foot." The film went on to win two Oscars for its stars -- Daniel Day Lewis and Brenda Fricker -- and began Weinstein's long career in earning the golden trophies.

During his tenure at Miramax and later The Weinstein Company, which he founded in 2005 with his brother, Bob Weinstein, the producer racked up 341 Academy Award nominations, winning 81 of them.

The Weinstein Company

Weinstein's own film company terminated him last week after The New York Times and The New Yorker reported the stories of several women, including actress Ashley Judd, who claimed that the producer had sexually harassed or sexually assaulted them.

"In light of new information about misconduct by Harvey Weinstein that has emerged in the past few days, the directors of The Weinstein Company -- Robert Weinstein, Lance Maerov, Richard Koenigsberg and Tarak Ben Ammar -- have determined, and have informed Harvey Weinstein, that his employment with The Weinstein Company is terminated, effective immediately," according to a statement from the company's board.

By Monday, private equity firm Colony Capital announced that it had "entered into a preliminary agreement" with Weinstein's former film company to potentially acquire all or part of it.

Tarak Ben Ammar, a Weinstein Company board member, praised the move, saying in part: "We believe that Colony's investment and sponsorship will help stabilize the Company's current operations, as well as provide comfort to our critical distribution, production and talent partners around the world."

British Academy of Film and Television Arts

BAFTA announced in a statement last Wednesday that Weinstein's membership had been revoked.

Previously, the producer was a fixture on the BAFTA awards circuit, hosting several events around the awards itself, including a pre-dinner and an after party.

"Whilst BAFTA has previously been a beneficiary of Mr. Weinstein’s support for its charitable work, it considers the reported alleged behaviour completely unacceptable and incompatible with BAFTA’s values," the statement from BAFTA said. "This has led to Mr. Weinstein’s suspension, and it will be followed by a formal process as laid out in BAFTA’s constitution."

"We hope this announcement sends a clear message that such behaviour has absolutely no place in our industry," the statement continued. "BAFTA will continue to work with the film, games and television industries to improve access to rewarding and fulfilling careers in safe, professional working environments."

Legion of Honor Award

French President Emmanuel Macron tweeted that he's taken steps to "remove" the Legion of Honor Award from Weinstein, who was presented with the award in 2012. It is the nation's highest honor, established in 1802 by Napoléon Bonaparte.

The streaming company completely cut ties with The Weinstein Company last week following the allegations.

Amazon had been working with the company on two projects -- an untitled mafia drama series Weinstein was producing with David O. Russell, and a series titled "The Romanoffs," an eight-episode series from "Mad Men" creator Matt Weiner.

The mafia show, which The Hollywood Reporter noted was a deal estimated at $160 million, had already been greenlit to run for two seasons.

"Amazon Studios no longer plans on moving forward with the David O. Russell project. As for 'The Romanoffs,' Amazon intends to move forward without the involvement of The Weinstein Co.," Amazon Studios told The Hollywood Reporter in a statement Friday.

Russell, along with the show's stars Robert De Niro and Julianne Moore, agreed with the decision.

"We support Amazon’s decision and in light of recent news and out of respect for all those affected we have decided together that it is best to not move forward with this show," they said in a joint statement.

"In the Heights"

Lin-Manuel Miranda and Quiara A. Hudes, the creators of the hit Broadway musical, announced they want the musical's movie adaption rights back from The Weinstein Company.

The company snatched up the film's rights after Miranda's other hit musical, "Hamilton," became a Broadway success. Now, the creators don't want anything to do with the disgraced producer's company.

"As a woman, I can no longer do business with The Weinstein Company," Hudes wrote in a lengthy post on Twitter last week. "To those women who suffered directly at Harvey's hands, I extend my sincerest compassion and support. Unfortunately, my musical 'In the Heights' is tied up in the company...I hope The Weinstein Company has enough grace, in the wake of these revelations, to respect my stand as a woman, and allow us to extricate 'In the Heights' from them."

Hudes added, "He thrived on this. He built an empire on this. It's been hard for me to sleep at night. My stomach is in knots."

Miranda threw his support behind Hudes, writing on Twitter, "As usual, Quiara does the prose best. She speaks for us both."

]]>Chance Yeh/Getty Images(NEW YORK) -- Hollywood is up in arms over the allegations surrounding Harvey Weinstein and the company he co-founded, The Weinstein Company.

The Producers Guild of America's national board of directors and officers voted on Monday to expel Weinstein after numerous women claimed the movie mogul and producer sexually harassed or sexually assaulted them.

"This morning, the PGA’s National Board of Directors and Officers decided by unanimous vote to institute termination proceedings concerning Harvey Weinstein’s membership,” co-presidents Gary Lucchesi and Lori McCreary said in a statement on behalf of the board. “As required by the PGA’s Constitution, Mr. Weinstein will be given the opportunity to respond before the Guild makes its final determination on November 6, 2017.”

“Sexual harassment of any type is completely unacceptable. This is a systemic and pervasive problem requiring immediate industry-wide action,” the statement continued.

The co-presidents also announced a new task force in the wake of Weinstein’s allegations.

“Today, the PGA’s National Board and Officers – composed of 20 women and 18 men -- created the Anti-Sexual Harassment Task Force specifically charged with researching and proposing substantive and effective solutions to sexual harassment in the entertainment industry,” the statement said. “The PGA calls on leaders throughout the entertainment community to work together to ensure that sexual abuse and harassment are eradicated from the industry.”

Weinstein has denied any allegations of non-consensual sex in a statement to The New Yorker.

However, in addition to the PGA, here are the other organizations and companies that have severed ties with the disgraced producer.

The Academy of Motion Picture Arts and Sciences

The preeminent organization honoring the best in film said in a statement Saturday that it's voted to expel Weinstein.

It did so "to send a message that the era of willful ignorance and shameful complicity in sexually predatory behavior and workplace harassment in our industry is over."

Weinstein and the academy had a pretty long history, dating back to 1990 when he launched an Oscars campaign for an independent film, "My Left Foot." The film went on to win two Oscars for its stars -- Daniel Day Lewis and Brenda Fricker -- and began Weinstein's long career in earning the golden trophies.

During his tenure at Miramax and later The Weinstein Company, which he founded in 2005 with his brother, Bob Weinstein, the producer racked up 341 Academy Award nominations, winning 81 of them.

The Weinstein Company

Weinstein's own film company terminated him last week after The New York Times and The New Yorker reported the stories of several women, including actress Ashley Judd, who claimed that the producer had sexually harassed or sexually assaulted them.

"In light of new information about misconduct by Harvey Weinstein that has emerged in the past few days, the directors of The Weinstein Company -- Robert Weinstein, Lance Maerov, Richard Koenigsberg and Tarak Ben Ammar -- have determined, and have informed Harvey Weinstein, that his employment with The Weinstein Company is terminated, effective immediately," according to a statement from the company's board.

By Monday, private equity firm Colony Capital announced that it had "entered into a preliminary agreement" with Weinstein's former film company to potentially acquire all or part of it.

Tarak Ben Ammar, a Weinstein Company board member, praised the move, saying in part: "We believe that Colony's investment and sponsorship will help stabilize the Company's current operations, as well as provide comfort to our critical distribution, production and talent partners around the world."

British Academy of Film and Television Arts

BAFTA announced in a statement last Wednesday that Weinstein's membership had been revoked.

Previously, the producer was a fixture on the BAFTA awards circuit, hosting several events around the awards itself, including a pre-dinner and an after party.

"Whilst BAFTA has previously been a beneficiary of Mr. Weinstein’s support for its charitable work, it considers the reported alleged behaviour completely unacceptable and incompatible with BAFTA’s values," the statement from BAFTA said. "This has led to Mr. Weinstein’s suspension, and it will be followed by a formal process as laid out in BAFTA’s constitution."

"We hope this announcement sends a clear message that such behaviour has absolutely no place in our industry," the statement continued. "BAFTA will continue to work with the film, games and television industries to improve access to rewarding and fulfilling careers in safe, professional working environments."

Legion of Honor Award

French President Emmanuel Macron tweeted that he's taken steps to "remove" the Legion of Honor Award from Weinstein, who was presented with the award in 2012. It is the nation's highest honor, established in 1802 by Napoléon Bonaparte.

The streaming company completely cut ties with The Weinstein Company last week following the allegations.

Amazon had been working with the company on two projects -- an untitled mafia drama series Weinstein was producing with David O. Russell, and a series titled "The Romanoffs," an eight-episode series from "Mad Men" creator Matt Weiner.

The mafia show, which The Hollywood Reporter noted was a deal estimated at $160 million, had already been greenlit to run for two seasons.

"Amazon Studios no longer plans on moving forward with the David O. Russell project. As for 'The Romanoffs,' Amazon intends to move forward without the involvement of The Weinstein Co.," Amazon Studios told The Hollywood Reporter in a statement Friday.

Russell, along with the show's stars Robert De Niro and Julianne Moore, agreed with the decision.

"We support Amazon’s decision and in light of recent news and out of respect for all those affected we have decided together that it is best to not move forward with this show," they said in a joint statement.

"In the Heights"

Lin-Manuel Miranda and Quiara A. Hudes, the creators of the hit Broadway musical, announced they want the musical's movie adaption rights back from The Weinstein Company.

The company snatched up the film's rights after Miranda's other hit musical, "Hamilton," became a Broadway success. Now, the creators don't want anything to do with the disgraced producer's company.

"As a woman, I can no longer do business with The Weinstein Company," Hudes wrote in a lengthy post on Twitter last week. "To those women who suffered directly at Harvey's hands, I extend my sincerest compassion and support. Unfortunately, my musical 'In the Heights' is tied up in the company...I hope The Weinstein Company has enough grace, in the wake of these revelations, to respect my stand as a woman, and allow us to extricate 'In the Heights' from them."

Hudes added, "He thrived on this. He built an empire on this. It's been hard for me to sleep at night. My stomach is in knots."

Miranda threw his support behind Hudes, writing on Twitter, "As usual, Quiara does the prose best. She speaks for us both."

The former "Tonight Show" host famously moved the late night series from New York to California in 1972. Soon after, in the mid-1980s, Carson himself made California his home, buying a property overlooking Point Dume Beach, according to Top Ten Real Estate Deals.

Carson lived there until his death in 2005. He was 79.

The home, which also features a guest house and sits on four acres, was designed by architect Ed Niles.

The main two-bedroom home measures at 7,083 square feet. It features an entertaining lounge space that boasts 30-feet-high glass windows along with an indoor arboretum perfect for any nature lover. The home also has an ocean terrace overlooking the Pacific Ocean.

The master suite sits on the home's upper level and has his-and-hers bathrooms and closets, complete with onyx fixtures.

Along with a guest home that has two bedrooms of its own, the mansion features a sun deck, pool, waterfall, koi pond, tennis courts, gym and locker room, along with a wine and tasting room.

]]>Mary E. Nichols/TopTenRealEstateDeals.com(MALIBU, Calif.) -- It's no secret the late Johnny Carson loved California, and his beloved Malibu beach home is now on the market for $81.5 million.

The former "Tonight Show" host famously moved the late night series from New York to California in 1972. Soon after, in the mid-1980s, Carson himself made California his home, buying a property overlooking Point Dume Beach, according to Top Ten Real Estate Deals.

Carson lived there until his death in 2005. He was 79.

The home, which also features a guest house and sits on four acres, was designed by architect Ed Niles.

The main two-bedroom home measures at 7,083 square feet. It features an entertaining lounge space that boasts 30-feet-high glass windows along with an indoor arboretum perfect for any nature lover. The home also has an ocean terrace overlooking the Pacific Ocean.

The master suite sits on the home's upper level and has his-and-hers bathrooms and closets, complete with onyx fixtures.

Along with a guest home that has two bedrooms of its own, the mansion features a sun deck, pool, waterfall, koi pond, tennis courts, gym and locker room, along with a wine and tasting room.

]]>Financials lead US stocks to hit new recordshttp://stillwaterradio.net/abc-business-news/356c223bbf82823059cfb60caa6b20cf
Mon, 16 Oct 2017 15:26:00 -0500http://stillwaterradio.net/abc-business-news/356c223bbf82823059cfb60caa6b20cfiStock/Thinkstock(NEW YORK) -- The major indexes closed at record highs on Monday with large gains in financials.

]]>Man builds massive King Kong display in yard for Halloweenhttp://stillwaterradio.net/abc-business-news/5b92eb46b6e23adae0f99a3c71864195
Mon, 16 Oct 2017 14:42:00 -0500http://stillwaterradio.net/abc-business-news/5b92eb46b6e23adae0f99a3c71864195iStock/Thinkstock(SALT LAKE CITY) -- A Utah man has created a gigantic King Kong statue to sit centerstage in his front yard for Halloween.

Ammon Smith, 33, has impressed his Salt Lake City neighborhood in the past, but this year he expects his 39-foot display to attract thousands of trick-or-treaters.

In 2014, Smith created a pirate ship, followed be a skeleton train in 2015 and a giant dragon prop complete with Viking ship in 2016.

"People thank me a lot for building the community and that's the biggest compliment they can give me," Smith told ABC News.

This year, with help from his wife, Tera, Smith said he decided to go with a monster theme and build King Kong.

"[King Kong] is big, burly and scary but he's not gorey," he said. "We want people to not feel scared when they come and ask us for candy."

Smith said he built the $140 structure in about 100 hours.

The Empire State Building in the piece is made from wood and Styrofoam.

King Kong was built from pool noodles, wood, chicken wire and fabric. King Kong's chest is made from a black trash bag while his teeth were made from wood and egg cartons. His eyes are made from little pumpkins.

A fog machine was added to simulate clouds above the Empire State Building.

Smith's neighbor of six years, Johnny-Mack Barlow, 44, said he helped lift the King Kong up onto the building. In 2016, he helped place the dragon on top of the roof.

"It's really cool to be able to help him out and be a tiny part of it," Barlow told ABC News. "Everybody that walks by is talking about it. It definitely creates a vibrancy for the area."

Smith also said his first 200 or so visitors will receive the large, full-size candy bars before he switches to the smaller, fun-size candy bars.

]]>iStock/Thinkstock(SALT LAKE CITY) -- A Utah man has created a gigantic King Kong statue to sit centerstage in his front yard for Halloween.

Ammon Smith, 33, has impressed his Salt Lake City neighborhood in the past, but this year he expects his 39-foot display to attract thousands of trick-or-treaters.

In 2014, Smith created a pirate ship, followed be a skeleton train in 2015 and a giant dragon prop complete with Viking ship in 2016.

"People thank me a lot for building the community and that's the biggest compliment they can give me," Smith told ABC News.

This year, with help from his wife, Tera, Smith said he decided to go with a monster theme and build King Kong.

"[King Kong] is big, burly and scary but he's not gorey," he said. "We want people to not feel scared when they come and ask us for candy."

Smith said he built the $140 structure in about 100 hours.

The Empire State Building in the piece is made from wood and Styrofoam.

King Kong was built from pool noodles, wood, chicken wire and fabric. King Kong's chest is made from a black trash bag while his teeth were made from wood and egg cartons. His eyes are made from little pumpkins.

A fog machine was added to simulate clouds above the Empire State Building.

Smith's neighbor of six years, Johnny-Mack Barlow, 44, said he helped lift the King Kong up onto the building. In 2016, he helped place the dragon on top of the roof.

"It's really cool to be able to help him out and be a tiny part of it," Barlow told ABC News. "Everybody that walks by is talking about it. It definitely creates a vibrancy for the area."

Smith also said his first 200 or so visitors will receive the large, full-size candy bars before he switches to the smaller, fun-size candy bars.

]]>Harvey Weinstein expelled from motion picture academyhttp://stillwaterradio.net/abc-business-news/96370996a9601c0b09539b0ee9052630
Sun, 15 Oct 2017 16:23:00 -0500http://stillwaterradio.net/abc-business-news/96370996a9601c0b09539b0ee9052630Drew Angerer/Getty Images(LOS ANGELES) -- The Academy of Motion Picture Arts and Sciences has voted to expell Harvey Weinstein, following numerous allegations of sexual misconduct against the former movie mogul and producer, the film academy announced on Saturday in a statement.

"The Academy of Motion Picture Arts and Sciences Board of Governors met today to discuss the allegations against Harvey Weinstein, and has voted well in excess of the required two-thirds majority to immediately expel him from the Academy," the statement read.

"We do so not simply to separate ourselves from someone who does not merit the respect of his colleagues but also to send a message that the era of willful ignorance and shameful complicity in sexually predatory behavior and workplace harassment in our industry is over," it continued. "What’s at issue here is a deeply troubling problem that has no place in our society. The Board continues to work to establish ethical standards of conduct that all Academy members will be expected to exemplify."

The 54-member board followed in the footsteps of the British Academy of Film and Television Arts, known as BAFTA, which earlier this week also revoked the membership of Weinstein.

Weinstein has been accused of sexual misconduct by numerous women, including actresses Ashley Judd, Gwyneth Paltrow, and Angelina Jolie. He was fired Sunday night from The Weinstein Co. he helped to found.

The former movie mogul and producer who has two Oscar nominations personally has had a long history with the Academy. During his tenure first at Miramax and then at The Weinstein Co., the companies' films were nominated for 341 Academy Awards and won 81.

The Academy's rare meeting on Saturday came after Amazon halted a mafia drama series Weinstein was producing with David O. Russell. The show had already won approvals to run for two seasons. Also, Lin-Manuel Miranda and Quiara A. Hudes publicly announced that they want The Weinstein Co. to release the movie adaptation rights to their hit musical, "In the Heights."

Bob Weinstein, Harvey's younger brother and co-chairman of their company, told ABC News in a statement Friday that the studio will survive the scandal.

"Our banks, partners and shareholders are fully supportive of our company and it is untrue that the company or board is exploring a sale or shutdown of the company," Weinstein said. "Business is continuing as usual as the company moves ahead."

A spokesperson for Harvey Weinstein told The New Yorker: "Any allegations of non-consensual sex are unequivocally denied by Mr. Weinstein."

"Mr. Weinstein has further confirmed that there were never any acts of retaliation against any women for refusing his advances. Mr. Weinstein obviously can’t speak to anonymous allegations, but with respect to any women who have made allegations on the record, Mr. Weinstein believes that all of these relationships were consensual," according to the full statement from Weinstein's spokesperson. "Mr. Weinstein has begun counseling, has listened to the community and is pursuing a better path. Mr. Weinstein is hoping that, if he makes enough progress, he will be given a second chance."

]]>Drew Angerer/Getty Images(LOS ANGELES) -- The Academy of Motion Picture Arts and Sciences has voted to expell Harvey Weinstein, following numerous allegations of sexual misconduct against the former movie mogul and producer, the film academy announced on Saturday in a statement.

"The Academy of Motion Picture Arts and Sciences Board of Governors met today to discuss the allegations against Harvey Weinstein, and has voted well in excess of the required two-thirds majority to immediately expel him from the Academy," the statement read.

"We do so not simply to separate ourselves from someone who does not merit the respect of his colleagues but also to send a message that the era of willful ignorance and shameful complicity in sexually predatory behavior and workplace harassment in our industry is over," it continued. "What’s at issue here is a deeply troubling problem that has no place in our society. The Board continues to work to establish ethical standards of conduct that all Academy members will be expected to exemplify."

The 54-member board followed in the footsteps of the British Academy of Film and Television Arts, known as BAFTA, which earlier this week also revoked the membership of Weinstein.

Weinstein has been accused of sexual misconduct by numerous women, including actresses Ashley Judd, Gwyneth Paltrow, and Angelina Jolie. He was fired Sunday night from The Weinstein Co. he helped to found.

The former movie mogul and producer who has two Oscar nominations personally has had a long history with the Academy. During his tenure first at Miramax and then at The Weinstein Co., the companies' films were nominated for 341 Academy Awards and won 81.

The Academy's rare meeting on Saturday came after Amazon halted a mafia drama series Weinstein was producing with David O. Russell. The show had already won approvals to run for two seasons. Also, Lin-Manuel Miranda and Quiara A. Hudes publicly announced that they want The Weinstein Co. to release the movie adaptation rights to their hit musical, "In the Heights."

Bob Weinstein, Harvey's younger brother and co-chairman of their company, told ABC News in a statement Friday that the studio will survive the scandal.

"Our banks, partners and shareholders are fully supportive of our company and it is untrue that the company or board is exploring a sale or shutdown of the company," Weinstein said. "Business is continuing as usual as the company moves ahead."

A spokesperson for Harvey Weinstein told The New Yorker: "Any allegations of non-consensual sex are unequivocally denied by Mr. Weinstein."

"Mr. Weinstein has further confirmed that there were never any acts of retaliation against any women for refusing his advances. Mr. Weinstein obviously can’t speak to anonymous allegations, but with respect to any women who have made allegations on the record, Mr. Weinstein believes that all of these relationships were consensual," according to the full statement from Weinstein's spokesperson. "Mr. Weinstein has begun counseling, has listened to the community and is pursuing a better path. Mr. Weinstein is hoping that, if he makes enough progress, he will be given a second chance."

"I was also the object of a lot of his verbal abuse — at one time physical abuse," the co-chairman of The Weinstein Co. told The Hollywood Reporter in a wide-ranging interview.

"And I am not looking for one bit of sympathy from anyone," the younger brother of Harvey Weinstein added. "I do not put myself in the category at all of those women that he hurt. But it's a complicated situation when it's your brother doing the abusing to you as well. I saw it and I asked him to get help for many years. And that's the truth. He avoided getting the help. We begged him."

Harvey Weinstein, 65, has been accused of sexual misconduct by numerous women, including actresses Ashley Judd, Gwyneth Paltrow, and Angelina Jolie. He was fired Sunday night by the board of the company he and Bob Weinstein founded in 2005.

Since the scandal broke, The Weinstein Co. has been under increased scrutiny and is expected to undergo a name change, according to The Hollywood Reporter.

Bob Weinstein, 62, said that he's barely spoken to his brother in the past five years. He emphasized that he was not aware of his brother's alleged sexual misconduct but instead thought Harvey Weinstein was engaged in adultery with one woman after another.

"I could not take his cheating," he said, referring to Harvey Weinstein's marriage to wife Georgina Chapman, "his lying and also his attitude toward everyone."

With the allegations now made against Harvey Weinstein, Bob Weinstein said, "My brother has caused unconscionable suffering ... I want him to get the justice that he deserves."

The Weinstein Co. fired Harvey Weinstein on Sunday night, and four board members have stepped down in the wake of the scandal.

Bob Weinstein said the board wants to go further and "sever" Harvey Weinstein's ownership interest in the company. "It can't be done that quickly," he said.

Earlier, in a statement Friday, Bob Weinstein told ABC News that the studio will survive the scandal.

"Our banks, partners and shareholders are fully supportive of our company and it is untrue that the company or board is exploring a sale or shutdown of the company," Weinstein said. "Business is continuing as usual as the company moves ahead."

A spokesperson for Harvey Weinstein told The New Yorker: "Any allegations of non-consensual sex are unequivocally denied by Mr. Weinstein."

"Mr. Weinstein has further confirmed that there were never any acts of retaliation against any women for refusing his advances. Mr. Weinstein obviously can’t speak to anonymous allegations, but with respect to any women who have made allegations on the record, Mr. Weinstein believes that all of these relationships were consensual," according to the full statement from Weinstein's spokesperson. "Mr. Weinstein has begun counseling, has listened to the community and is pursuing a better path. Mr. Weinstein is hoping that, if he makes enough progress, he will be given a second chance.”

]]>Mathew Imaging/WireImage via Getty Images(NEW YORK) -- Bob Weinstein is opening up amid the scandal over sexual misconduct allegations against his brother, claiming he was a victim of abuse by Harvey Weinstein.

"I was also the object of a lot of his verbal abuse — at one time physical abuse," the co-chairman of The Weinstein Co. told The Hollywood Reporter in a wide-ranging interview.

"And I am not looking for one bit of sympathy from anyone," the younger brother of Harvey Weinstein added. "I do not put myself in the category at all of those women that he hurt. But it's a complicated situation when it's your brother doing the abusing to you as well. I saw it and I asked him to get help for many years. And that's the truth. He avoided getting the help. We begged him."

Harvey Weinstein, 65, has been accused of sexual misconduct by numerous women, including actresses Ashley Judd, Gwyneth Paltrow, and Angelina Jolie. He was fired Sunday night by the board of the company he and Bob Weinstein founded in 2005.

Since the scandal broke, The Weinstein Co. has been under increased scrutiny and is expected to undergo a name change, according to The Hollywood Reporter.

Bob Weinstein, 62, said that he's barely spoken to his brother in the past five years. He emphasized that he was not aware of his brother's alleged sexual misconduct but instead thought Harvey Weinstein was engaged in adultery with one woman after another.

"I could not take his cheating," he said, referring to Harvey Weinstein's marriage to wife Georgina Chapman, "his lying and also his attitude toward everyone."

With the allegations now made against Harvey Weinstein, Bob Weinstein said, "My brother has caused unconscionable suffering ... I want him to get the justice that he deserves."

The Weinstein Co. fired Harvey Weinstein on Sunday night, and four board members have stepped down in the wake of the scandal.

Bob Weinstein said the board wants to go further and "sever" Harvey Weinstein's ownership interest in the company. "It can't be done that quickly," he said.

Earlier, in a statement Friday, Bob Weinstein told ABC News that the studio will survive the scandal.

"Our banks, partners and shareholders are fully supportive of our company and it is untrue that the company or board is exploring a sale or shutdown of the company," Weinstein said. "Business is continuing as usual as the company moves ahead."

A spokesperson for Harvey Weinstein told The New Yorker: "Any allegations of non-consensual sex are unequivocally denied by Mr. Weinstein."

"Mr. Weinstein has further confirmed that there were never any acts of retaliation against any women for refusing his advances. Mr. Weinstein obviously can’t speak to anonymous allegations, but with respect to any women who have made allegations on the record, Mr. Weinstein believes that all of these relationships were consensual," according to the full statement from Weinstein's spokesperson. "Mr. Weinstein has begun counseling, has listened to the community and is pursuing a better path. Mr. Weinstein is hoping that, if he makes enough progress, he will be given a second chance.”

In a series of tweets, Dorsey acknowledged that Twitter is "still not doing enough" to restrict abusive or harassing content.

"We’ve been working intensely over the past few months and focused today on making some critical decisions," he tweeted.

"We decided to take a more aggressive stance in our rules and how we enforce them," he wrote. "New rules around: unwanted sexual advances, non-consensual nudity, hate symbols, violent groups and tweets that glorifies violence. These changes will start rolling out in the next few weeks. More to share next week."

Twitter was hit Friday with an online boycott, using the hashtag #WomenBoycottTwitter, after actress Rose McGowan's account was suspended temporarily for posting another person's phone number. Critics drew a correlation between Twitter's silencing of McGowan and her accusing movie producer Harvey Weinstein of alleged sexual misconduct. (A rep for Weinstein has denied that any non-consensual sexual activity took place between him and any of his accusers.)

"We have been in touch with Ms. McGowan’s team," Twitter said in a statement. "We want to explain that her account was temporarily locked because one of her tweets included a private phone number, which violates our Terms of Service. The tweet was removed and her account has been unlocked. We will be clearer about these policies and decisions in the future."

In a series of tweets, Dorsey acknowledged that Twitter is "still not doing enough" to restrict abusive or harassing content.

"We’ve been working intensely over the past few months and focused today on making some critical decisions," he tweeted.

"We decided to take a more aggressive stance in our rules and how we enforce them," he wrote. "New rules around: unwanted sexual advances, non-consensual nudity, hate symbols, violent groups and tweets that glorifies violence. These changes will start rolling out in the next few weeks. More to share next week."

Twitter was hit Friday with an online boycott, using the hashtag #WomenBoycottTwitter, after actress Rose McGowan's account was suspended temporarily for posting another person's phone number. Critics drew a correlation between Twitter's silencing of McGowan and her accusing movie producer Harvey Weinstein of alleged sexual misconduct. (A rep for Weinstein has denied that any non-consensual sexual activity took place between him and any of his accusers.)

"We have been in touch with Ms. McGowan’s team," Twitter said in a statement. "We want to explain that her account was temporarily locked because one of her tweets included a private phone number, which violates our Terms of Service. The tweet was removed and her account has been unlocked. We will be clearer about these policies and decisions in the future."

Though the Wall Street Journal reported that the production company was likely to be shuttered or sold, Bob Weinstein insists that that information is false.

Their current focus is on three upcoming films: "Polaroid," which will be released Nov. 22; "Paddington 2," which comes out Jan. 12; and "War With Grandpa," which is scheduled for Feb. 23, he added.

"Our banks, partners and shareholders are fully supportive of our company and it is untrue that the company or board is exploring a sale or shutdown of the company," Weinstein said. "Business is continuing as usual as the company moves ahead."

The Weinstein Company has been under increased scrutiny for the past week or so, as numerous women, including actresses Ashley Judd, Gwyneth Paltrow, and Angelina Jolie, have come forward to accuse Harvey Weinstein of sexual misconduct. Last weekend, Harvey Weinstein was terminated by the board of his eponymous company, which he and his brother founded in 2005.

"Any allegations of non-consensual sex are unequivocally denied by Mr. Weinstein," his spokeswoman told The New Yorker magazine. "Mr. Weinstein has further confirmed that there were never any acts of retaliation against any women for refusing his advances. Mr. Weinstein obviously can’t speak to anonymous allegations, but with respect to any women who have made allegations on the record, Mr. Weinstein believes that all of these relationships were consensual. Mr. Weinstein has begun counseling, has listened to the community and is pursuing a better path. Mr. Weinstein is hoping that, if he makes enough progress, he will be given a second chance.”

Though the Wall Street Journal reported that the production company was likely to be shuttered or sold, Bob Weinstein insists that that information is false.

Their current focus is on three upcoming films: "Polaroid," which will be released Nov. 22; "Paddington 2," which comes out Jan. 12; and "War With Grandpa," which is scheduled for Feb. 23, he added.

"Our banks, partners and shareholders are fully supportive of our company and it is untrue that the company or board is exploring a sale or shutdown of the company," Weinstein said. "Business is continuing as usual as the company moves ahead."

The Weinstein Company has been under increased scrutiny for the past week or so, as numerous women, including actresses Ashley Judd, Gwyneth Paltrow, and Angelina Jolie, have come forward to accuse Harvey Weinstein of sexual misconduct. Last weekend, Harvey Weinstein was terminated by the board of his eponymous company, which he and his brother founded in 2005.

"Any allegations of non-consensual sex are unequivocally denied by Mr. Weinstein," his spokeswoman told The New Yorker magazine. "Mr. Weinstein has further confirmed that there were never any acts of retaliation against any women for refusing his advances. Mr. Weinstein obviously can’t speak to anonymous allegations, but with respect to any women who have made allegations on the record, Mr. Weinstein believes that all of these relationships were consensual. Mr. Weinstein has begun counseling, has listened to the community and is pursuing a better path. Mr. Weinstein is hoping that, if he makes enough progress, he will be given a second chance.”

]]>Feds, 11 states crack down on companies selling student debt reliefhttp://stillwaterradio.net/abc-business-news/e25d4ec68cc7d4a1582cfdeec6aaaa75
Fri, 13 Oct 2017 16:26:00 -0500http://stillwaterradio.net/abc-business-news/e25d4ec68cc7d4a1582cfdeec6aaaa75iStock/Thinkstock(NEW YORK) -- Federal and state authorities are cracking down on multiple purveyors of so-called “student loan debt relief,” alleging that the companies took in more than $95 million in illegal up-front fees from American consumers in exchange for little or no help.

The actions, announced Friday as “Operation Game of Loans” by the Federal Trade Commission and attorneys general in 11 states and the District of Columbia, include five new cases, one new judgment in favor of the FTC and a preliminary injunction entered in a case filed earlier this year.

Student loan debt is reaching crisis levels, with 42 million Americans together owing $1.4 trillion for their education loans.

Officials say the debt relief businesses employed a variety of deceptions, including pretending to be affiliated with a federal debt relief program or a loan servicer, falsely promising to reduce or forgive debt and charging illegal upfront fees. Some of the businesses would invoke real federal debt relief programs – but fail to mention that these programs are free to apply for, narrowly designed and most consumers do not qualify.

States involved in the crackdown were Colorado, Florida, Illinois, Kansas, Maryland, North Carolina, North Dakota, Oregon, Pennsylvania, Texas and Washington, along with the District of Columbia, but the companies operated in other states as well.

Student loans are the second-largest segment of consumer debt after mortgages. In past years, homeowners were targeted with similar empty promises of relief by fraudulent “mortgage rescue” companies, a pervasive consumer issue the FTC has tried to combat and ABC News has covered in recent years.

Borrowers should steer clear of any business that wants an upfront fee or their personal FSA ID username and password, the FTC says. More consumer advice is here.

The five new cases involve 30 defendants. In each case, the feds obtained temporary restraining orders halting the alleged schemes and freezing assets.

The companies include: A1 DocPrep. Inc., based in Los Angeles; American Student Loan Consolidators, based in Deerfield Beach, Fla.; Alliance Document Preparation, based in Los Angeles; Student Debt Doctor, based in Fort Lauderdale, Fla.; and Student Debt Relief Group, based in Los Angeles. Some of the companies did businesses under multiple different names.

In addition to the five new cases announced Friday, the FTC was granted summary judgment in a case against Student Aid Center, based in Doral, Fla., and won a stipulated preliminary injunction in its case against Strategic Student Solutions, based in Boca Raton, Fla.

]]>iStock/Thinkstock(NEW YORK) -- Federal and state authorities are cracking down on multiple purveyors of so-called “student loan debt relief,” alleging that the companies took in more than $95 million in illegal up-front fees from American consumers in exchange for little or no help.

The actions, announced Friday as “Operation Game of Loans” by the Federal Trade Commission and attorneys general in 11 states and the District of Columbia, include five new cases, one new judgment in favor of the FTC and a preliminary injunction entered in a case filed earlier this year.

Student loan debt is reaching crisis levels, with 42 million Americans together owing $1.4 trillion for their education loans.

Officials say the debt relief businesses employed a variety of deceptions, including pretending to be affiliated with a federal debt relief program or a loan servicer, falsely promising to reduce or forgive debt and charging illegal upfront fees. Some of the businesses would invoke real federal debt relief programs – but fail to mention that these programs are free to apply for, narrowly designed and most consumers do not qualify.

States involved in the crackdown were Colorado, Florida, Illinois, Kansas, Maryland, North Carolina, North Dakota, Oregon, Pennsylvania, Texas and Washington, along with the District of Columbia, but the companies operated in other states as well.

Student loans are the second-largest segment of consumer debt after mortgages. In past years, homeowners were targeted with similar empty promises of relief by fraudulent “mortgage rescue” companies, a pervasive consumer issue the FTC has tried to combat and ABC News has covered in recent years.

Borrowers should steer clear of any business that wants an upfront fee or their personal FSA ID username and password, the FTC says. More consumer advice is here.

The five new cases involve 30 defendants. In each case, the feds obtained temporary restraining orders halting the alleged schemes and freezing assets.

The companies include: A1 DocPrep. Inc., based in Los Angeles; American Student Loan Consolidators, based in Deerfield Beach, Fla.; Alliance Document Preparation, based in Los Angeles; Student Debt Doctor, based in Fort Lauderdale, Fla.; and Student Debt Relief Group, based in Los Angeles. Some of the companies did businesses under multiple different names.

In addition to the five new cases announced Friday, the FTC was granted summary judgment in a case against Student Aid Center, based in Doral, Fla., and won a stipulated preliminary injunction in its case against Strategic Student Solutions, based in Boca Raton, Fla.

The Nasdaq gained 14.29 ( 0.22 percent) to close at 6,605.80, while the S&P 500 finished at 2,553.17, up 2.24 ( 0.09 percent) from its open.

Crude oil was about 1.46 percent higher with prices at $51 per barrel.

Winners and Losers: After President Donald Trump announced the government would end subsidies to insurers under the Affordable Care Act, health care stocks took a hit including Tenet Healthcare (down 5.10 percent).

The Nasdaq gained 14.29 ( 0.22 percent) to close at 6,605.80, while the S&P 500 finished at 2,553.17, up 2.24 ( 0.09 percent) from its open.

Crude oil was about 1.46 percent higher with prices at $51 per barrel.

Winners and Losers: After President Donald Trump announced the government would end subsidies to insurers under the Affordable Care Act, health care stocks took a hit including Tenet Healthcare (down 5.10 percent).

]]>Flight 666 to 'HEL' on Friday the 13th to endhttp://stillwaterradio.net/abc-business-news/4d3542387addcf3af1d313c1f652dddf
Fri, 13 Oct 2017 14:20:00 -0500http://stillwaterradio.net/abc-business-news/4d3542387addcf3af1d313c1f652dddfiStock/Thinkstock(NEW YORK) -- Friday the 13th may spark dread for the superstitious. And for many people, the number 666 is associated with the devil based on the book of Revelation in the Bible.

But for 11 years some airline passengers have flown in the face of any such fearful associations -- taking Finnair’s flight AY 666 from Copenhagen to Helsinki, which has the airport abbreviation “HEL” -- on Friday the 13th.

Finnair also announced that Friday would be the last time a flight of that number would fly on Friday the 13th. Asked why by a customer on Twitter, the company said it was retiring the "666" flight number because the airline is growing and adding more numbers. Finnair also noted that it still has a flight from SIN (the code for Singapore's airport) to HEL.

]]>iStock/Thinkstock(NEW YORK) -- Friday the 13th may spark dread for the superstitious. And for many people, the number 666 is associated with the devil based on the book of Revelation in the Bible.

But for 11 years some airline passengers have flown in the face of any such fearful associations -- taking Finnair’s flight AY 666 from Copenhagen to Helsinki, which has the airport abbreviation “HEL” -- on Friday the 13th.

Finnair also announced that Friday would be the last time a flight of that number would fly on Friday the 13th. Asked why by a customer on Twitter, the company said it was retiring the "666" flight number because the airline is growing and adding more numbers. Finnair also noted that it still has a flight from SIN (the code for Singapore's airport) to HEL.

]]>'Stranger Things' costume draws online backlashhttp://stillwaterradio.net/abc-business-news/d49bbddf7677ef5e7a70fb6fff9aab62
Fri, 13 Oct 2017 12:39:00 -0500http://stillwaterradio.net/abc-business-news/d49bbddf7677ef5e7a70fb6fff9aab62ABCNews.com(NEW YORK) -- The Netflix hit show "Stranger Things" is sure to provide some costume inspiration this Halloween, but some online retailers are raising eyebrows with a "sexy" take on one of the series' central child characters.

The "Upside Down Honey" costume is based on Millie Bobby Brown’s onscreen character, Eleven, but is intended only for adults.

It features a short light-pink baby-doll dress with a ruffled bust, thigh-high white socks, a bomber jacket and accessories.

Although there do not appear to be child-sized versions of the costume, some critics on social media claim the design sexualizes a child star. Brown was 12 at the time of filiming "Stranger Things" and is now 13.

"The Yandy girl strives to be the talk of the Halloween party," the company statement said. "And we've found these topical, pop culture inspired costumes with a fashion-forward twist are always a fan favorite year after year."

Physically-revealing costumes for adults based on fictional or real-life characters are not new. There are also costumes modeled on the "Harry Potter" character Hermione Granger, the clown monster Pennywise, and first lady Melania Trump.

]]>ABCNews.com(NEW YORK) -- The Netflix hit show "Stranger Things" is sure to provide some costume inspiration this Halloween, but some online retailers are raising eyebrows with a "sexy" take on one of the series' central child characters.

The "Upside Down Honey" costume is based on Millie Bobby Brown’s onscreen character, Eleven, but is intended only for adults.

It features a short light-pink baby-doll dress with a ruffled bust, thigh-high white socks, a bomber jacket and accessories.

Although there do not appear to be child-sized versions of the costume, some critics on social media claim the design sexualizes a child star. Brown was 12 at the time of filiming "Stranger Things" and is now 13.

"The Yandy girl strives to be the talk of the Halloween party," the company statement said. "And we've found these topical, pop culture inspired costumes with a fashion-forward twist are always a fan favorite year after year."

Physically-revealing costumes for adults based on fictional or real-life characters are not new. There are also costumes modeled on the "Harry Potter" character Hermione Granger, the clown monster Pennywise, and first lady Melania Trump.

]]>Financial psychologist Dr. Brad Klontz discusses emotions and savings ahead of National Savings Dayhttp://stillwaterradio.net/abc-business-news/949bf2b1cc8f173c8f69ff086fec3b3d
Thu, 12 Oct 2017 08:36:00 -0500http://stillwaterradio.net/abc-business-news/949bf2b1cc8f173c8f69ff086fec3b3diStock/Thinkstock(NEW YORK) -- October 12 marks National Savings Day, founded by Capital One with the hopes of helping people save their money and learn new strategies for doing so. It was announced at the beginning of 2017 by The Registrar at National Day Calendar and can be observed annually.

Ahead of National Savings Day, Capital One psychologist Dr. Brad Klontz, who is also a financial psychologist for Creighton University, spoke with ABC News about the emotions tied to savings and a new study uncovering an effective way people can save.

He tells ABC News that, after conducting interviews with Americans in major cities, he found positive memories tied to sentimental items could be harnessed to improve financial decision-making more effectively than a "standard lecture on the importance of savings."

He says participants were divided into two groups. One group was presented a standard lecture on saving money, and the other was required to bring "a sentimental item from their past," such as a teddy bear or necklace from their grandmother, to their meeting.

He then asked those with the sentimental item to think about why it was valuable to them, uncovering the reasons why a person would save a specific item. The group proceeded to turn the conversation towards money and why they would save their money in the same way they were preserving a sentimental item. Each person in the group discussed specific saving goals.

For instance, a person would not just save money for a “vacation,” but a trip to a narrower, more meaningful destination, such as a place where their ancestors were born.

The results of the study showed people in the sentimental item group were saving three times more per month over the course of three weeks than those who took a standard lecture.

The study found by incorporating personal nostalgia and savings experiences into financial planning, it presents a strong opportunity to harness emotions in order to facilitate better and healthier financial decision-making.

]]>iStock/Thinkstock(NEW YORK) -- October 12 marks National Savings Day, founded by Capital One with the hopes of helping people save their money and learn new strategies for doing so. It was announced at the beginning of 2017 by The Registrar at National Day Calendar and can be observed annually.

Ahead of National Savings Day, Capital One psychologist Dr. Brad Klontz, who is also a financial psychologist for Creighton University, spoke with ABC News about the emotions tied to savings and a new study uncovering an effective way people can save.

He tells ABC News that, after conducting interviews with Americans in major cities, he found positive memories tied to sentimental items could be harnessed to improve financial decision-making more effectively than a "standard lecture on the importance of savings."

He says participants were divided into two groups. One group was presented a standard lecture on saving money, and the other was required to bring "a sentimental item from their past," such as a teddy bear or necklace from their grandmother, to their meeting.

He then asked those with the sentimental item to think about why it was valuable to them, uncovering the reasons why a person would save a specific item. The group proceeded to turn the conversation towards money and why they would save their money in the same way they were preserving a sentimental item. Each person in the group discussed specific saving goals.

For instance, a person would not just save money for a “vacation,” but a trip to a narrower, more meaningful destination, such as a place where their ancestors were born.

The results of the study showed people in the sentimental item group were saving three times more per month over the course of three weeks than those who took a standard lecture.

The study found by incorporating personal nostalgia and savings experiences into financial planning, it presents a strong opportunity to harness emotions in order to facilitate better and healthier financial decision-making.

Some people are doubling down on this pronouncement after some big chains, including Macy's, said they were hiring fewer seasonal workers. But those who read closer will see that other retailers are doing just the opposite. Target, for example, plans to increase total holiday hiring by 43 percent -- its first increase in five years.

Target is emblematic of the reality that gets lost in the eagerness of the mass media to declare the death of shopping malls: Though some retailers are withering, many retail chains are actually quite healthy.

The notion that bricks-and-mortar stores are moribund is fed by these three myths:

All major retailers are suffering. Online sales are growing for all retailers, but nearly 85 percent of retail sales still take place in stores. And major retailers, including Nordstrom, Dick’s Sporting Goods, Burlington Stores, T.J. Maxx and Target, are undertaking significant expansions this year.

Lines between traditional and online retailing are blurring. The two actually work in tandem. Nordstrom is opening smaller stores with limited inventory to support its growing online operation. (You’ve probably been told in a clothing store that you can get the color you want online.) Shoppers can now go into Target to buy Casper mattresses, formerly sold only online. According to marketing expert Allan Haims, shoppers have come to view online and in-store retailing through “a single lens.”

Millennials shun traditional shopping, and seldom visit retail stores. Actually, they’re leaving home to shop in droves, visiting multiple locations in one outing to find what they want -- an important vital sign for the future health of bricks and mortar.

"The retail industry has been operating on the outdated assumption that boomers are shopping for deals primarily in-store and millennials are searching for deals mostly online," says Greg Petro, an online analyst with First Insight. "But the behavior of these two generations is evolving.”

Instead of fixating on the next sexy online enterprise, investors will likely see new allure in retail chains based on something that’s been forgotten amid the digital fever: capital. Big chains have better resources than purely online enterprises to pay for warehouse space, giving them a leg up. And retailers that execute online sales adroitly and burnish their brands in cyberspace stand to do well against purely digital disrupters. Meanwhile, as physical stores become viewed as essential to compete, purely online enterprises will face new capital and management challenges that are old hat to bricks-and-mortar chains.

Dave Sheaff Gilreath is a founding principal of Sheaff Brock Investment Advisors LLC. He has more than 30 years of experience in the financial services industry. Neither he nor members of his family own shares of retail stocks. Any opinions expressed in this column are solely those of the author.

Some people are doubling down on this pronouncement after some big chains, including Macy's, said they were hiring fewer seasonal workers. But those who read closer will see that other retailers are doing just the opposite. Target, for example, plans to increase total holiday hiring by 43 percent -- its first increase in five years.

Target is emblematic of the reality that gets lost in the eagerness of the mass media to declare the death of shopping malls: Though some retailers are withering, many retail chains are actually quite healthy.

The notion that bricks-and-mortar stores are moribund is fed by these three myths:

All major retailers are suffering. Online sales are growing for all retailers, but nearly 85 percent of retail sales still take place in stores. And major retailers, including Nordstrom, Dick’s Sporting Goods, Burlington Stores, T.J. Maxx and Target, are undertaking significant expansions this year.

Lines between traditional and online retailing are blurring. The two actually work in tandem. Nordstrom is opening smaller stores with limited inventory to support its growing online operation. (You’ve probably been told in a clothing store that you can get the color you want online.) Shoppers can now go into Target to buy Casper mattresses, formerly sold only online. According to marketing expert Allan Haims, shoppers have come to view online and in-store retailing through “a single lens.”

Millennials shun traditional shopping, and seldom visit retail stores. Actually, they’re leaving home to shop in droves, visiting multiple locations in one outing to find what they want -- an important vital sign for the future health of bricks and mortar.

"The retail industry has been operating on the outdated assumption that boomers are shopping for deals primarily in-store and millennials are searching for deals mostly online," says Greg Petro, an online analyst with First Insight. "But the behavior of these two generations is evolving.”

Instead of fixating on the next sexy online enterprise, investors will likely see new allure in retail chains based on something that’s been forgotten amid the digital fever: capital. Big chains have better resources than purely online enterprises to pay for warehouse space, giving them a leg up. And retailers that execute online sales adroitly and burnish their brands in cyberspace stand to do well against purely digital disrupters. Meanwhile, as physical stores become viewed as essential to compete, purely online enterprises will face new capital and management challenges that are old hat to bricks-and-mortar chains.

Dave Sheaff Gilreath is a founding principal of Sheaff Brock Investment Advisors LLC. He has more than 30 years of experience in the financial services industry. Neither he nor members of his family own shares of retail stocks. Any opinions expressed in this column are solely those of the author.